Red Pine Announces Departure Of Chief Executive Officer, Appointment Of Interim Ceo And Mailing Of Shareholder Meeting Materials

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Mining Update

Toronto, ON, February 21, 2024 – Red Pine Exploration Inc. (TSXV: RPX, OTCQB: RDEXF) (“Red Pine” or the “Company”) announced today that Quentin Yarie has stepped down as President & Chief Executive Officer of the Company. Paul Martin, the Chair of the Board of Directors of the Company (the “Board”), has as assumed the role of Interim CEO.

Mr. Yarie has been with the Company in various roles since December 2009, serving in the capacity of President & COO since October 2013 and as CEO since July 2015. Under his stewardship, the Company acquired and consolidated 100% ownership of its flagship property, the Wawa Gold Project, advancing the project’s mineral resource prospects and successfully positioned the Wawa Gold Project for further success. The Board thanks Mr. Yarie for his years of service to the Company. Mr. Yarie will remain as a member of the Board for the time being to assist in the transition of executive management to ensure continuity of operations. Following the appointment of a permanent replacement CEO, Mr. Yarie has advised the Company he will resign his Board seat.

Mr. Martin said “Quentin has dedicated a large portion of his career to the Wawa Project and leaves the Company well-positioned to capitalize on all the work done to date. We thank him for his commitment and leadership and wish him well in his future endeavours.”

The Company is very pleased to announce that Gary O’Connor has agreed to stand for election to the Board at the annual shareholder meeting to be held on March 12, 2024 (the “AGM”).  Mr. O’Connor has 40 years of experience in precious metals exploration and mining in Canada and abroad. He was the President and CEO of Moneta Gold Inc. (“Moneta”) (2017-2023) and Vice President at Dundee Resources Limited (2007-2017). Prior to that, he was the Vice President, Exploration at Gabriel Resources Ltd. (2000-2007) and the District Exploration Manager at Freeport McMoran Copper and Gold Company (1990-2000).

Mr. Martin, who will serve as the Company’s Interim CEO until the search for Mr. Yarie’s permanent replacement is concluded, is an experienced mining executive having served in many senior executive positions over a 30-year career in the mining industry, including as President & CEO of Detour Gold Corporation (2013-2018). Mr. Martin recently acted as interim CEO of Osisko Gold Royalties Ltd. from July 2023 to December 2023, where he ensured a smooth transition and continuity of business strategy while the Board undertook its search for its new President and CEO.

The Company also wishes to announce that the proxy materials for the annual meeting of shareholders to be held March 12, 2024 at 10:00 a.m. have been mailed to all shareholders of record as of January 31, 2024 and can be found on www.SEDARPLUS.ca, https://docs.tsxtrust.com/2156 and on the Company’s website at www.redpineexp.com. Shareholders are encouraged to review such materials and to deposit their votes in accordance with the instructions set out in the proxy materials.


About Red Pine Exploration Inc. 

Red Pine Exploration Inc. is a gold exploration company headquartered in Toronto, Ontario, Canada. The Company’s shares trade on the TSX Venture Exchange under the symbol “RPX” and on the OTCQB Markets under the symbol “RDEXF”.

The Wawa Gold Project is in the Michipicoten Greenstone Belt of Ontario, a region that has seen major investment by several producers in the last five years. Its land package hosts numerous historic gold mines and is over 6,900 hectares in size.

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